Violation Tracker Individual Record

RBS PLC and RBS Securities Japan
Current Parent Company: 
NatWest Group PLC
January 6, 2014
Offense Group: 
competition-related offenses
Primary Offense: 
interest rate benchmark manipulation
Violation Description: 

RBS Securities Japan was sentenced by U.S. District Judge Michael P. Shea in the District of Connecticut. RBS Securities Japan pleaded guilty on April 12, 2013, to one count of wire fraud for its role in manipulating Yen LIBOR benchmark interest rates. RBS Securities Japan signed a plea agreement with the government in which it admitted its criminal conduct and agreed to pay a $50 million fine, which the court accepted in imposing sentence. In addition, RBS plc, the Edinburgh, Scotland-based parent company of RBS Securities Japan, entered into a deferred prosecution agreement (DPA) with the government requiring RBS plc to pay an additional $100 million penalty, to admit and accept responsibility for its misconduct as set forth in an extensive statement of facts and to continue cooperating with the Justice Department in its ongoing investigation.

Level of Government: 
Action Type: 
agency action
Justice Department Antitrust Division
Civil or Criminal Case: 
Prosecution Agreement: 
plea & deferred prosecution agreement
HQ Country of Parent: 
United Kingdom
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.